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Business

U.S. judge blocks Commerce Department TikTok order

By gufotecaorg November 11, 2020November 5, 2020

A U.S. judge in Pennsylvania on Friday blocked a U.S. Commerce Department order set to take effect on Nov. 12 that would have effectively barred Chinese-owned short video-sharing app TikTok…

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Business

Chevron posts profit on deep cost cuts, improved oil prices

By gufotecaorg November 10, 2020November 5, 2020

Chevron Corp CVX.N on Friday posted a surprise third-quarter profit as oil prices recovered from spring lows and spending cuts benefited operating results. Chevron and its peers have slashed spending…

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Business

Exxon posts third straight quarterly loss as pandemic hits demand, prices

By gufotecaorg November 9, 2020November 5, 2020

Exxon Mobil Corp XOM.N posted its third straight quarterly loss on Friday and detailed deeper spending cuts to come, as the oil major reels from the COVID-19 pandemic's impact on…

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Business

Judge sets November deadline for Google’s initial response to U.S. antitrust case

By gufotecaorg November 8, 2020November 5, 2020

Alphabet’s Google must tell a district court how it will respond to a federal antitrust lawsuit by mid-November, with the two sides making initial disclosures later in the month, U.S.…

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Business

Marlboro maker Altria takes $2.6 billion hit as Juul valuation crumbles

By gufotecaorg November 7, 2020November 5, 2020

Altria Group Inc MO.N on Friday took a third-quarter hit of $2.6 billion to its investment in Juul Labs Inc, further diminishing the value of its initial $12.8 billion stake…

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Business

Days before election, economic data reveals gradual improvement, gloomy outlook

By gufotecaorg November 6, 2020November 5, 2020

With the presidential election drawing near, a litany of data released this week shows the U.S. economy continues to climb out of the recession caused by the coronavirus pandemic, but…

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Business

Chevron, Exxon shrink spending as coronavirus cuts demand

By gufotecaorg November 5, 2020November 5, 2020

U.S. oil majors Chevron Corp and Exxon Mobil Corp cut spending aggressively in the third quarter in a race to offset weak trends in fuel demand caused by the COVID-19…

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